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Japanese firm invests heavily in domestic garment company
19
Mar '08
On March 8, Binh Thuan-Nha Be Garment Joint Stock Company inked an agreement with Japan based Toray International.

The signing ceremony was witnessed by Masuraki, General Director of Toray and Vu Duc Giang, Vice President of Vinatex.

As a result of this agreement, Toray International will invest US $1 million in Binh Thuan-Nha Be which will be utilized by the latter to produce another warehouse.

A part of the investment will go for developing 4 modern garment producing lines to produce high–end shirts that will be exported to Japan.

Besides, the project will give employment to 370 workers and will create an export turnover of about $4 million.

According to official of the Binh Thuan–Nha Be garment, the Toray Internaltional started surveying and negotiating with Vietnamese partner since February 2007.

The company decided to choose the Binh Thuan–Nha Be garment for investment because of abundant low cost and well trained laborers.

Fibre2fashion News Desk - Vietnam

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